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Discover LudwigThe phrase 'the banks' is correct and usable in written English.
You could use it to refer to the riverbanks, financial institutions, or other types of banks. For example, "The banks of the river were lined with trees."
Dictionary
the banks
noun
An institution where one can place and borrow money and take care of financial affairs.
Exact(60)
Just ask the banks.
The banks are matted….
Innocent, plead the banks.
Where are the banks?
Willows crowded the banks.
The banks say no.
Take the banks.
The banks are horrified.
"Perhaps the banks.
Gazelles graze the banks.
The banks are undercapitalised.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com